ECONOMIC SCAN

PANAJI: A 10-day Silk Expo is underway at the Panaji convention centre, Mala and it will continue till March 18. The exhibition has varieties of silks from different states including organic silk and the famous tassar and muga silk available only in Bihar, Assam and Chattisgarh. Organised by Hastashilpi, the expo has silk weavers, handloom clusters and silk co-operative societies directly showcasing their products to customers. “Our aim is to make products accessible to the customers without the intermediary of the middle-man,” said T Abhinand, organiser. Goan artiste Sonam Morajkar had inaugurated the expo on March 10. NT

BIS-industry interaction on March 16

PANAJI: The Bureau of Indian Standards (BIS), Mumbai in association with the Goa Chamber of Commerce and Industry (GCCI) is organising an interactive session with industries in Goa on Saturday, March 16 at the convention hall. The half-day session will start at 10 am and conclude by 12.30 pm. It will dwell on the importance and benefits of third party certification, mandatory and voluntary certification, management system certification and how to get associated with BIS for getting licence and registration. The programme is open to all industries, MSMEs and also to consumers and the general public. NT

HDFC Bank voted India’s best managed company

PANAJI: HDFC Bank was voted the best managed company in India by investors and analysts in a poll conducted by FinanceAsia, a leading global financial magazine. HDFC Bank is followed by TCS and Hindustan Unilever in this category. The bank also was ranked 1st for ‘Best Growth Strategy’. Titan and Bajaj Finance were the other corporates in the top 3. HDFC Bank managing director Aditya Puri was also voted India’s Best CEO in the survey. The bank was also ranked 2nd in ‘Environmental and Social Governance’ (ESG) behind TCS, and third in investor relations behind TCS and Infosys. 240 portfolio managers and analysts from around the world participated in the survey in its 19th year. The magazine quizzed investors about the best managed listed companies across Asia, in addition to the best senior executives and best policies around dividend payments, the magazine said on its website. The survey remained open for a period of 5 weeks starting January 2019. NT

MSTC IPO opens today

MUMBAI: MSTC Ltd, a mini Ratna under Ministry of Steel, will be launching its initial public offering (IPO) which is scheduled to open on March 13 and close on March 15, with a price band of ` 121-128 per equity share of face value of ` 10 each of the company. A discount equivalent to ` 5.50 per equity share on the offer price shall be offered to retail individual bidders and eligible employee bidders. The IPO comprises of up to 17,670,400 equity shares of the company through an offer for sale by the President, acting through the Ministry of Steel, government of India. Minimum bid lot is 90 equity shares and in multiples of 90 equity shares thereafter. The equity shares of MSTC Ltd are proposed to be listed on BSE and the NSE. Equirus Capital Pvt Ltd is the book running lead manager to the offer. NT